This is one of the reasons that technology is so significant to economic growth. ICT have also inspired other establishment of a global market that didn’t exist before. Through the online marketplace citizens and businesses of all countries/world you can buy and sell goods to anyone in minutes; by doing so it increase the economy’s trade exchange. This digital global marketplace connects individuals in fulfilling their needs and also becoming part of the foreign exchange market; transferring money from one currency to another through online payment services. Kvochko also talks about business innovation in her article, which is a direct result of the connectivity that ICT provides throughout the
Over the past few years , the growth of both tech hardware and the internet has had a direct correlation with eCommerce. Just as the internet has grown into the desired medium for marketing, advertising, and purchasing of products, goods, and services; eCommerce has grown to rival traditional shopping in many ways. Logistics has come a long way in the business world .There was a time when the retailers used to directly source goods from suppliers and manufacturers. Today, there are eCommerce fulfillment distribution centers for distributing the products. Logistics includes many aspects like warehousing, inventory management, billing, packaging, labelling, shipping, cash on delivery, payment, product return & exchange, and much more.
E-tailing represents a form of in- home shopping and the major non-store channel (Levy and Weitz, 2007). Wang and Head (2007) highlight that the internet is increasingly being viewed as a tool and place to enhance customer relationship. According to Weitz (2010), e-tailers are using technology to convert “touch-and-feel” attributes into “look-and-see” attributes. Today’s e-commerce landscape is characterised by very high competition (Belanger et al., 2002) and a marketplace is changing at a very dynamic pace (Keen et al., 2004;
Thus, the application of information technology, e-commerce such as international supply chain management information system, radio frequency identification technology. .. will be more widely used in business, because the more quickly and accurately transmitted information is, the more effective
Marketers appear to be curious on the opportunities to post advertisements on the World Wide Web. Internet had more advantage on making easy transactions between the consumers (Wen, 1997). Digital advertising, also called “Online Advertising”, is the use of internet as the media of marketing to gain and attract more customers (Beal, 2015). The popularity of internet brought more ideas on
Now Market players are introducing new and improved versions of smartphone applications, which is more user friendly and easy to use. And this will attract young travelers. And online travel booking via smartphone is the most favorite booking intermediate for most of the young travelers because of ease of use, better convenience, and 24*7 accessibility to the application. In the world Asia-Pacific region holds the highest growth potential in the online travel agency market share, in which India & China is the most profitable markets. This growth is because of the increase in disposable income, rise in the middle-class section, and increase in the rate of Internet users.
E-business is the terms that using internet for business purpose. Now a day, every individual know how to use internet for multi purposes. Some of them were using for knowledge, for social and for business purpose. Internet provides a new platform for increase the revenue of the business. While website is one of the common tools using by community, e-business is just a web presence.
The tourism industry contributes significantly to the worldwide economy, employing 200 million people and representing 10% of global GDP (Socci, 2016). International tourism is defined as a person or group of people temporarily visiting a foreign country and the activities they partake in while abroad (Filiposki, 2014). Socci expands on the definition by identifying ten primary sub-industries that combine to form a more aptly named tourism “cluster.” These sub-industries include: accommodation services; hotel and restaurant; food and beverage; land transport; water transport; rail transport; air transport; supporting transportation services; recreational, cultural, and sporting services; and retail and country-specific tourism (2016). In 2014, foreign tourism generated $1409 billion, which was 30% of global service exports (Filiposki, 2014).
The idea, “The customer is always right,” has become a general knowledge. In today’s world, this thinking has become obsolete. The hospitality industry has come to adopt that the customer comes first. That is why in terms of developing the hospitality product, the industry has been built to cater to the needs and wants of the customer. Tourism is considered as one of the main trade and industry activities in the world that contributes to economic, cultural and political advancement of various regions (Krippendorf, 1989).